Q3 GDP growth forecast
THE PHILIPPINE ECONOMY likely cooled in the third quarter as soft government spending, typhoons and corruption scandals weighed on growth momentum, economists said. Read the full story.
Louvre heist work of petty criminals, not organized crime, prosecutor says
PARIS — The audacious daytime robbery of historical jewels worth $102 million from the Paris Louvre museum last month was executed by petty criminals, rather than professionals from the world of organized crime, the Paris prosecutor said on Sunday.
On a Sunday morning two weeks ago, two men parked a movers’ lift outside the Louvre, rode up to the second storey, smashed a window, cracked open display cases with angle grinders, and then fled on the back of scooters driven by two accomplices in a heist lasting less than seven minutes.
With three of the four suspected thieves now believed to be under arrest and the jewels still missing, their profiles do not resemble Ocean’s Eleven-style professional gangsters, but small-time criminals from the hardscrabble northern suburbs of Paris, authorities say.
“This is not quite everyday delinquency… but it is a type of delinquency that we do not generally associate with the upper echelons of organized crime,” Paris prosecutor Laure Beccuau told franceinfo radio.
SUSPECTS ‘CLEARLY LOCAL PEOPLE,’ PROSECUTOR SAYS
She said the profiles of the four people under arrest so far — including the girlfriend of one of the suspected robbers — are not typical of organized crime professionals capable of executing complex operations.
“These are clearly local people. They all live more or less in Seine-Saint-Denis,” she said, referring to a low-income area north of Paris.
French Interior Minister Laurent Nunez told French daily Le Parisien that he believed the one suspect still on the run was probably the organizer of the heist.
French media have speculated that the robbers were amateurs, as they dropped the most precious of the jewels — Empress Eugenie’s crown, made of gold, emerald, and diamonds — during their flight, left tools, a glove and other items at the scene, and failed to set fire to the movers’ truck before fleeing.
A week after the raid, police arrested two men suspected of being the ones who broke into the Louvre — a 34-year-old Algerian who has lived in France since 2010 and was detained by police as he tried to board a flight to Algeria, and a 39-year-old already under judicial supervision for aggravated theft.
Both live in Aubervilliers, in northern Paris, and have “partially admitted” their involvement, Ms. Beccuau said last week.
Two more suspects, a 37-year-old man and a 38-year-old woman, were arrested on Oct. 29 and charged on Saturday.
‘AT LEAST’ ONE PERSON STILL MISSING FROM HEIST GROUP
Ms. Beccuau said the 37-year-old man was believed to be part of the four-man group that carried out the heist, based on DNA found in the moving truck.
She said he had a record of 11 criminal convictions for a range of offenses, including traffic-related offenses, aggravated theft and an attempt to break into an automated teller machine.
She added that he was in a relationship with the 38-year-old woman and that they have children together, and that he and one of the two other men arrested had been convicted of the same robbery in 2015.
Traces of the woman’s DNA were also found in the movers’ truck, but Ms. Beccuau said these seemed to have been transferred into the truck, possibly by a person or an object later put into the vehicle.
The prosecutor’s office said on Saturday that both deny involvement in the heist.
BFM television reported that the woman broke down in tears when she heard she would remain in custody, and cried “I am afraid for my children, and for myself, I am afraid.”
Her lawyer Adrien Sorrentino told BFM she denied all charges and that he would consider appealing her detention.
Asked whether authorities believed that three of the four Louvre robbers were now under arrest, Ms. Beccuau said that “at least one person is still missing.” She did not rule out there being other accomplices.
Three people who had been arrested along with the couple on Oct. 29 have been freed without charge, the prosecutor’s office said on Saturday. — Reuters
The ASEAN Summit and Philippine trade; medium-term fiscal projections
The ASEAN summit in Malaysia ended on Oct. 28, then the APEC (Asia-Pacific Economic Cooperation) Summit in South Korea ended on Nov. 1. Both annual events focused on trade and economic diplomacy. Then the rotating ASEAN chairmanship for 2026 was passed from Kuala Lumpur to Manila starting Jan. 1 next year.
Also last week, the Philippine Statistics Authority (PSA) released the country’s international merchandise trade statistics for September. In this column, I compare our January-September data for the last three years.
Our merchandise or goods imports have breached $100 billion in January-September this year, and the bulk of that came from China whose share in our total imports has been rising fast, from 23% of total imports in 2023 to 28.6% of total in 2025. The shares of Japan, the US, Indonesia, Thailand, Singapore, and Australia are declining.
Our exports have recovered and reached $63 billion. Our main exports market remains the US, followed by Hong Kong, Japan, and China (see Table 1).
Various surveys show that among ASEAN countries, when it comes to foreign policy the Philippines is the most anti-China and pro-US. But in actual trade, like merchandise imports, Philippine businesses and the public favor China and not the US.
The combined share of China and Hong Kong in imports in 2025 was 30.1%, much larger than the combined share of the US, Japan, Taiwan, Korea, Australia, Germany…
China is a good source of useful physical products like trucks and buses, gadgets and computers, clothes and shoes, while the US is a good source of entertainment like Netflix and Hollywood movies, YouTube, UFC, the NBA, Taylor Swift concerts etc. But we cannot industrialize with entertainment.
PERENNIAL DEFICIT
Our current and medium-term fiscal condition remains in perennial deficit. Our expenditures endlessly rise even without an economic or health crisis, and our revenues cannot cope with it. The annual deficit of P1.55 trillion a year in the last three years is expected to remain flat in the next three years (see Table 2).
At current rate of increase in our public debt, even if we have a deficit of zero in 2026, with expenditures cut significantly so that there is a balanced budget (revenues equal to expenditures), our outstanding debt stock of P17.5 trillion at around 6% average interest rate (especially the 10-year government bonds) will still increase to P18.05 trillion next year just on the increase in interest payments alone.
This means that we should aspire not only for a balanced budget but a budget surplus. Many current subsidies and freebies must be discontinued, and privatization of government lands and assets should continue.
Meanwhile, on the continuing corruption scandal in the country, these reports in BusinessWorld are generally good: “PHL gets ‘verbal’ assurances from Fitch, Moody’s on outlook” (Oct. 28), “Unprogrammed allocations cap seen deterring GAA ‘insertions’” (Oct. 29), “Budget seen leaving no room for long-term spending items” (Oct. 30), “Philippine government’s outstanding debt slips to P17.46 trillion” (Oct. 31), and, “Q3 underspending to ‘temporarily’ drag growth — Recto” (Nov. 3).
I can understand the concern of Finance Secretary Ralph Recto. Some important infrastructure projects that can contribute to increased productivity would be affected as public suspicion remains high. The problem, however, is that as the budget of the Department of Public Works and Highways has been cut, other sectors could opportunistically sneak in and raise their budgets for 2026, so that the projected deficit will remain high.
Bienvenido S. Oplas, Jr. is the president of Bienvenido S. Oplas, Jr. Research Consultancy Services, and Minimal Government Thinkers. He is an international fellow of the Tholos Foundation.
PHL developers boost disaster resilience amid climate hazards
By Beatriz Marie D. Cruz, Reporter
PROPERTY DEVELOPERS in the Philippines are increasingly integrating disaster-resilient and sustainable features in their projects, as recent earthquakes and extreme weather highlight the country’s vulnerability to natural hazards.
“Due to the recent natural disasters that have impacted the country, including Cebu and Davao, many, if not all, major developers have likely heightened discussions with their designers and planners on ways to mitigate such risks,” said Roy Amado L. Golez, Jr., director for research, consultancy and valuation at Leechiu Property Consultants.
Developments that incorporate modern systems in power, water, waste, pollution and mobility tend to attract more tenants, he said in an e-mailed reply to questions.
SM Prime Holdings, Inc. and its residential arm SM Development Corp. have made disaster preparedness a key part of their design process.
“We’re finding that a lot of people are concerned about how to keep their assets and families safe,” Jessica Bianca T. Sy, SM Prime head of corporate planning and development, told BusinessWorld on the sidelines of an event last week.
When they design a project, they first look at disaster resilience, then integrate broader sustainability features, she added.
Aboitiz InfraCapital, which operates mixed-use estates in Cebu, Tarlac and Batangas, said resilience and preparedness are central to its developments.
“We integrate disaster risk reduction and climate adaptation measures throughout our masterplans — from elevated roads and advanced drainage systems to reliable utilities with built-in redundancy,” Monica Lorenzana Trajano, Aboitiz InfraCapital economic estates head of commercial strategy, said in an e-mailed reply to questions.
“These are supported by digital monitoring systems that allow rapid response and minimal disruption during natural events,” she added.
The magnitude 6.9 earthquake that struck Cebu on Sept. 30 damaged at least 80 establishments, according to the Department of Tourism, while the magnitude 7.4 and 6.8 earthquakes in Davao last month damaged more than 2,100 houses across the Davao and Caraga regions, data from the National Disaster Risk Reduction and Management Council showed.
The Cebu earthquake underscored the need to build estates with resilience in mind, Ms. Trajano said. “Across our estates, we’re seeing a growing preference for developments that are not only environmentally responsible, but also designed to promote overall well-being.”
Mr. Golez said developers are likely to avoid areas near fault lines or flood-prone zones, while increasing the adoption of green building certifications such as Leadership in Energy and Environmental Design, Building for Ecologically Responsive Design Excellence and the WELL Building Standard.
He added that developers could further reduce their carbon footprint by using locally sourced materials and energy-efficient technologies.
Ms. Trajano said sustainability features such as renewable energy use, wastewater management, decarbonization programs and green certifications are increasingly valued by investors.
In cases of disruption, Aboitiz InfraCapital implements business continuity plans to ensure essential services and operations remain functional, she added.
Mr. Golez said that the National Building Code could eventually be amended to mandate the use of more sustainable and disaster-resilient designs and technologies, as regulators and industry groups push stronger climate adaptation measures.
Alternergy gets SEC ‘green equity’ label
ALTERNERGY Holdings Corp. has become the first publicly listed company in the Philippines to receive the Securities and Exchange Commission’s (SEC) “green equity” label, the company said in a statement on Monday.
The certification marks the first time the label — introduced by the SEC in September — has been awarded. The green equity label is given to listed companies or those preparing an initial public offering that derive more than 50% of their revenues and investments from environmentally sustainable activities.
“Alternergy is a pure-play renewable energy developer, dedicated exclusively to clean power generation, which directly aligns with the requirements of the SEC certification,” Alternergy President Gerry P. Magbanua said in the statement.
Alternergy said 100% of its revenues come from renewable sources, while more than 90% of its operating and capital expenditures are directed toward green activities, including wind, solar, run-of-river hydro and battery energy storage projects.
The company said this was validated through an independent report by accounting firm SyCip Gorres Velayo & Co.
The SEC said the labeling framework — hailed as the first of its kind in Southeast Asia — seeks to help deepen the Philippine capital market by improving transparency, boosting investor confidence and supporting the country’s climate transition targets.
Alternergy earlier adopted a green finance framework to align its debt financing with the Sustainable Finance Taxonomy Guidelines, one of the criteria for the SEC certification.
The company is developing four renewable energy projects under its “Triple Play” portfolio, spanning wind, solar and run-of-river hydro. Alternergy aims to reach 500 megawatts of installed renewable capacity by 2026.
On Monday, Alternergy shares declined 3.41% to close at P0.85 each on the Philippine Stock Exchange. — Sheldeen Joy Talavera
Sun Life Philippines launches investment-linked life plan
SUN LIFE of Canada (Philippines), Inc. (Sun Life Philippines) has launched an investment-linked life policy with a quick application process.
Sun Life EasyLink Protect provides life insurance protection up to age 100, with coverage equal to at least five times the plan’s annual premium.
The insurer said the product has a simplified application and guaranteed acceptance as it does not require lengthy applications or medical exams.
Policyholders also gain access to a selection of local and global investment funds catering to various risk appetites to grow their fund value.
The plan can be paid either annually, semi-annually, or quarterly, over five or 10 years.
“Filipinos have always been go-getters, and we want to help them become more financially confident to go after their dreams. Sun Life EasyLink Protect can help them get started by building a strong financial foundation and helping them gain momentum,” Sun Life Philippines Client Experience and Marketing Head Carla Gonzalez-Chong said in a statement.
“It’s designed for today’s go-getters who want protection and potential growth in one simplified plan because their big dreams deserve big protection.”
Sun Life Asia’s latest Financial Resilience Index found that Filipinos struggled with long-term planning despite high financial confidence.
It showed that only 64% feel capable of meeting their future goals, while one in three said they would not be able to sustain themselves beyond three months without external support if income suddenly stopped.
Latest Insurance Commission data showed that Sun Life Philippines’ premium income was at P57.16 billion in 2024, while its net income was at P10.98 billion. It was the top performing life insurer in terms of premium income and net profit last year. — A.M.C. Sy
Entertainment News (11/04/25)
‘Lost’ Filipino film found in Belgium
A COPY of a 1936 film thought to be lost to history has been found in a Belgian film archive. Diwata ng Karagatan, produced by film pioneer Jose Nepomuceno, was located at the Cinematheque royale de Belgique by filmmaker and film historian Nick Deocampo. According to Mr. Deocampo in a Facebook post, “The film’s 1936 provenance dislodges the claim earlier held by the 1937 Fernando Poe, Sr.-starrer, Zamboanga, as the oldest Filipino pre-World War II movie.” Diwata ng Karagatan exists only as a 35 mm print, said Mr. Deocampo, as it has never been digitized. “What makes the discovery of this film double historical is that this is the first and perhaps the only film that is extant that was produced by the Father of Philippine Cinema, Jose Nepomuceno,” he wrote. Only four or five full-length films are known to have survived the war, he wrote.
Magellan wins best picture in Valladolid
LAV DIAZ’ historical film Magellan won the best picture prize at the 70th edition of the Valladolid International Film Festival in Valladolid, Spain. Magellan is the Philippines’ entry to the best international feature category at the 98th Academy Awards in the US, better known as the Oscars. It stars Gael Garcia Bernal as the Portuguese explorer Ferdinand Magellan. The film follows his life from when he buys a Cebuano slave in Malacca, his proposal to circumnavigate the world to find a trade route to Asia — a proposal accepted by Spain — the difficulties of the voyage itself, and his arrival and subsequent death in Cebu. The film premiered at the Cannes Film Festival in May.
Quezon City is now an official UNESCO Film City
QUEZON CITY has been designated as a UNESCO Creative City of Film, one of the first Southeast Asian cities to receive this recognition. According to the local government, the UNESCO Film City designation provides Quezon City the opportunity to strengthen its film industry by “enforcing worker protection policies such as the Eddie Garcia Law to ensure fair wages and safe working conditions; developing sustainable talent and professionalization programs to uplift the local film workforce; and pursuing global recognition for Filipino filmmakers.” Quezon City received this designation as a Film City alongside Ho Chi Minh City.
Nice to Not Meet You now on Prime Video
PRIME VIDEO has premiered its newest original Korean rom-com, Nice to Not Meet You, with new episodes to be released weekly on Mondays and Tuesdays. It is directed by Kim Ga-ram and stars Lee Jung-jae, Lim Ji-yeon, Kim Ji-hun, and Seo Ji-hye. The series follows the unlikely connection between a typecast actor and a political journalist reassigned to entertainment, blending commentary on the entertainment world with romance.
Gloc-9, Loonie, Bambu headline FlipTop Live
FLIPTOP, the Philippines’ biggest battle rap organization, is holding back-to-back concerts in Cebu and Manila with icons of the genre. On Nov. 7, FlipTop LIVE is going to Cebu City’s IC3 Convention Center with Loonie, Gloc-9, and Filipino-American music activist Bambu De Pistola as headliners. On Nov. 8, Loonie, Gloc-9, and Bambu De Pistola with KJah and DJs Phatrick and Supreme Fist will be performing at the Metrotent Convention Center in Pasig for FlipTop LIVE’s Manila leg. Tickets are now available through online reservation via the FlipTop Battle League Facebook page, and in-store at Apollo Sports Bar in Mandaue City, Cebu, and at Baraks in Mandaluyong City.
HEY JUNE! holds first album experience tour
FILIPINO alternative pop band HEY JUNE! has announced their first-ever headlining concert series, Curiosity Killed The Cat: The Album Experience Tour. Named after their debut album, the tour follows the success of their single “LASIK,” which trended online after being featured on Pinoy Big Brother: Collab Edition. The shows will take place on Nov. 7, 6 p.m., at Velvet Playground in Marikina, with guest artists Dilaw and Gracenote; Nov. 8, 6 p.m., at Jess & Pat’s in Maginhawa, Quezon City, with guest artists Moonstar88 and The Vowels They Orbit; Nov. 22 at Takeover Lounge in Katipunan, Quezon City, with guest artists 6cyclemind and Better Days; and Nov. 27, 7 p.m., at Mow’s Bar in Matalino, Quezon City, with guest artists Sandwich and Shanni.
FPJ movies continue to be aired on GMA
FILMS starring Fernando Poe, Jr. (better known as FPJ), are set to continue being aired on GMA. Next up in the program on Nov. 9 is the 1985 courtroom drama Partida, where FPJ co-stars with Armida Siguion-Reyna. Then, on Nov. 16, FPJ and Alma Moreno’s 1978 film King returns. On Nov. 23, the 1982 rural crime drama Daniel Bartolo ng Sapang Batoon will feature FPJ as a man who rises to defend his community, with Marianne dela Riva as his leading lady. Finally, showing on Nov. 30 will be the 1977 film Bontoc which brings FPJ to the Cordillera mountains where he and Elizabeth Oropesa star in a culturally rich story of tribal conflict, tradition, and the fight for peace. “FPJ sa GMA” airs every Sunday at 3:15 p.m. on GMA-7.
Sony announces actresses to play Beatles partners
THE actresses that will play the partners of The Beatles in Sam Mendes’ four-film cinematic event chronicling the band’s fame have been revealed. They are: Anna Sawai as Yoko Ono, Mia McKenna-Bruce as Maureen (Cox) Starkey, Saoirse Ronan as Linda (Eastman) McCartney, and Aimee Lou Wood as Pattie Boyd. They will be starring opposite Harris Dickinson as John Lennon, Barry Keoghan as Ringo Starr, Paul Mescal as Paul McCartney, and Joseph Quinn as George Harrison. Director Mendes has conceived of four theatrical feature films — one from each band member’s distinct point of view — that will intersect to tell the story of The Beatles.
Coco Martin movies on Cinema One this month
CINEMA ONE is turning the spotlight on actor Coco Martin with a movie lineup that brings together his action-packed, feel-good, and crowd-favorite films on Sundays this November. First up is 3pol Trobol: Huli Ka Balbon! where he stars as a top agent framed for a crime he didn’t commit, on Nov. 9. Next is Beauty and the Bestie, a buddy comedy where Mr. Martin stars alongside Vice Ganda, airing on Nov. 16. After that is a team-up with Vic Sotto on Nov. 23: Jack Em Popoy: The Puliscredibles, about police officers who must set aside their differences to take down a powerful syndicate. Finally, Nov. 30 ends things with a bang with the action-fantasy Ang Panday. Coco Martin’s movies will air every Sunday at 7 p.m. on Cinema One, available on SKYcable ch. 56, Cignal ch. 45, and GSat Direct TV ch. 14.
Band SB19 headlines Honor of Kings’ KIC 2025
MULTIPLAYER online battle arena game Honor of Kings has announced that P-pop boy group SB19 is its official music artist for the Honor of Kings International Championship (KIC) 2025. To be held from Nov. 14 to 30, the event will see a crossover between the hit game and the famous P-pop boy group. Their original track, “Rise for Honor,” representing the Philippines on the international e-sports stage, will be released soon. For the championship, 16 of the world’s best teams are set to compete for a million-dollar prize. Entry is free for fans, with stages running across Makati and Parañaque City.
MAMA Awards and concert to stream on HBO Max
THE Korean awards show MAMA Awards will have its 2025 edition streamed on HBO Max from Nov. 28 to 29. Aside from the awarding ceremony, the accompanying concert will feature some of K-pop’s biggest stars. The two-day live event will feature performers like ENHYPEN, BABYMONSTER, G-DRAGON, and many more. Korean actor Park Bo-gum will be hosting day one of the awards.
Kim Myung Soo, Choi Bo Min to return to PHL
THE Tourism Promotions Board of the Philippines is enlisting the star power of two popular Korean celebrities, Kim Myung Soo and Choi Bo Min, to entice Korean travelers to discover the Philippines during Korea’s winter season. Signed with Universal Records and GLXY Talent Management, Myung Soo and Bo Min will be turning the spotlight on the Philippines — particularly Clark, Pampanga — as a premier tourist destination for Korean visitors. As part of this promotion, the Runrio PUMA Clark Half Marathon will take place on Dec. 14, where fans can run alongside the two stars.
Sharon, Martin, Rachelle Ann Go star in NYE show
FOR those looking for a place to ring in 2026, Solaire Resort North has announced its New Year’s Eve (NYE) show, A Night with the Stars, set for Dec. 31 at the resort’s Grand Ballroom. It will feature a concert with Sharon Cuneta, Martin Nievera, and Rachelle Ann Go, under the musical direction of Louie Ocampo. For reservations and inquiries, visit sn.solaireresort.com/offers/dining/a-night-of-icons, call 8888-8888, or e-mail snrestaurantevents@solaireresort.com or sn.reservations@solaireresort.com.
Philippines’ Manufacturing Purchasing Managers’ Index (PMI), October 2025
PHILIPPINE MANUFACTURING activity rebounded in October, despite a further drop in new orders and output, according to S&P Global. Read the full story.
Solving the problem of corruption
Jose Rizal called corruption a “social cancer.” As both doctor and reformer, he knew what he was talking about. Cancer spreads quietly through the body, weakening it until its defenses collapse. Corruption behaves the same way: it seeps through society’s bloodstream — its institutions, culture, and collective mindset — until the whole system can no longer care for itself.
To cure a chronic illness, a doctor must diagnose its causes and treat them systematically and continuously. The same is true for corruption. Despite countless anti-corruption drives, we Filipinos still ask: Why does corruption persist?
The answer lies in one word: institutionalization. Corruption in the Philippines has become embedded in our structures and routines. It has become normal.
Let us imagine corruption as a three-legged stool. A person thinking of engaging in corruption — whether a public official, contractor, or businessperson — will subconsciously ask: Is this stool strong enough to sit on? If all three legs seem sturdy, that person will feel safe to proceed.
The three legs of this stool are:
1. Weak enforcement of laws and rules against corruption;
2. Weak moral commitment of professionals and officials to uphold the public interest; and,
3. Public acceptance and normalization of corruption in everyday life.
All three must be addressed if we hope to make corruption too risky and too shameful to sit on.
1. Weak Enforcement: When Crime Pays
People respond to consequences — especially rewards and punishments. A businessperson who considers bribing a regulator to secure a contract makes a simple calculation: Is the gain worth the risk?
In the Philippines, that risk is minimal. The likelihood of detection is low, the penalties are light, and high-profile offenders often escape punishment or receive pardons. Impunity emboldens wrongdoers.
Contrast this with countries where corruption is deterred by credible and swift punishment. There, the fear of certain retribution outweighs any temptation to cheat.
Our justice system must act like an immune system — detecting, isolating, and neutralizing corruption cells before they metastasize. That requires not just laws but effective enforcement agencies, protected whistleblowers, and independent courts. Without these, the first leg of the stool remains strong.
2. Weak Moral Commitment: When Duty Is Forgotten
Public office is a public trust. This constitutional principle should guide every public servant. Yet too often, it becomes a mere ceremonial phrase recited during oath-taking and forgotten soon after.
Professionals such as lawyers, accountants, and engineers are pillars of good governance who swear to serve the public interest. Their ethical codes are clear: Lawyers must defend justice and rights. Accountants must ensure accuracy and transparency in financial transactions and reports. Engineers must guarantee the safety and soundness of structures.
When public servants and professionals perform their moral duties faithfully, they reinforce integrity in public service. But when they look the other way — or worse, collude in wrongdoing — they enable corruption.
Recent scandals, such as the fraudulent flood control projects, reveal this breakdown. Engineers sign off on substandard work; auditors falsify records; public officials approve disbursements despite glaring irregularities. Each small compromise erodes professional honor until moral collapse becomes systemic.
Professional associations and the government must reignite their members’ ethical core through continuing education, peer accountability, and swift sanctions for violators. The second leg weakens only when moral courage is restored.
3. Public Acceptance: When Wrong Becomes Normal
Perhaps the most dangerous leg of the stool is cultural acceptance. Ask an average Filipino about corruption and you will likely hear: “That’s just how things work.”
This sense of helplessness keeps corruption alive. Even those who dislike it may rationalize small acts of dishonesty. A “facilitation fee” becomes “practicality.” A bribe turns into “smooth relations.”
These everyday compromises feed a culture of tolerance. Changing it requires a deep cultural shift. Citizens must stop rewarding dishonesty with admiration or silence. Schools and media must celebrate integrity, not clever shortcuts. Families must teach that honesty is not weakness but strength. When people collectively reject corruption, its social oxygen runs out.
CONFRONTING ALL THREE LEGS
Many anti-corruption drives fail because they address only one leg at a time. Strengthening enforcement without moral renewal breeds fear but not virtue. Promoting ethics without credible punishment invites hypocrisy. Raising public awareness without institutional follow-through leads to cynicism.
To cure the cancer, all three legs must be attacked simultaneously — through law, ethics, and culture. This is not the task of one president or one administration. It is a national mission requiring the cooperation of government, business, and civil society.
Business leaders, in particular, play a crucial role. They can refuse to pay bribes, demand clean procurement, and reward employees who report wrongdoing. Corporate governance codes already mandate these principles — but they must be practiced, not merely posted on office walls.
Citizens, too, must act. Every time we demand receipts, report irregularities, or vote for integrity, we chip away at the stool’s foundation. Every act of honesty, no matter how small, strengthens the nation’s moral backbone.
THE HOPE OF HEALING
Rizal diagnosed corruption as a social cancer more than a century ago. Yet he also believed Filipinos could be cured — through education, moral awakening, and civic courage. His prescription remains valid today.
Our society can heal itself if we act with consistency and conviction. Like a good doctor, we must remove the tumors, strengthen our institutions, and change the habits that cause relapse.
If we confront corruption on all three fronts — law, ethics, and culture — then future generations may finally look back and say: “That was the disease our nation once suffered — and overcame.”
Dr. Benito L. Teehankee is a full professor specializing in management ethics at De La Salle University. He chairs the Shared Prosperity Committee of the Management Association of the Philippines.
Ayala Land, Eton top off high-rise condo at Parklinks estate
AYALA LAND, INC. and Eton Properties Philippines, Inc. have reached the final stage of construction of The Lattice by Alveo Land, marking a milestone in the development of the 35-hectare Parklinks estate that straddles Quezon City and Pasig City.
“A joint venture between Ayala Land and Eton Properties, Parklinks is envisioned as a model for integrated, sustainable communities where nature, work and lifestyle coexist seamlessly,” Ayala Land said in a statement on Monday.
The Lattice is Ayala Land unit Alveo Land’s first residential tower in Parklinks, a mixed-use development along the C-5 corridor — one of Metro Manila’s key arteries linking business and commercial districts.
The tower will feature studio units sized 30 square meters (sq.m.), one-bedroom units at 58 sq.m., two-bedroom units at 94 sq.m. and three-bedroom units at 123 sq.m., with prices starting at P10.7 million, according to Alveo Land’s website.
Half of Parklinks’ total land area will be devoted to open and green spaces, including the three-hectare Central Park, the riverside Eco Esplanade and the Green Spine — a network of landscaped walkways and bike lanes that connect residential, retail and recreational zones.
Residents will also have access to upcoming developments such as the 115,000-sq.m. Parklinks Mall, set to feature retail, dining and wellness concepts under the Ayala Malls brand.
The 3,178-sq.m. Casa Ibarra Parklinks event venue is slated to open next year, while the four-storey Multiple Intelligence International School will open next year with culinary labs, maker spaces and a 5,000-sq.m. multi-purpose sports field.
Connecting both sides of the estate is the 110-meter Parklinks Bridge, which includes dedicated lanes for pedestrians and cyclists across the Marikina River.
Parklinks also houses the North and South Towers by Ayala Land Premier, Ayala Land’s flagship luxury brand, alongside outdoor amenities such as open-air lounges, a pet park with obstacle courses and multi-purpose grounds for community activities.
Ayala Land’s first-half net income rose 8% year on year to P14.2 billion, driven by stronger contributions from property development, leasing and hospitality.
Eton Properties, the real-estate arm of the Lucio Tan Group, posted a 24% increase in first-quarter net income to P144 million.
On Monday, Ayala Land shares rose 0.5% to close at P20 each, while LT Group, Inc. gained 1.23% to P14.80. — Beatriz Marie D. Cruz
How PSEi member stocks performed — November 3, 2025
Here’s a quick glance at how PSEi stocks fared on Monday, November 3, 2025.
PHL to set up Indo-Pacific defense council with US, Japan and Australia
By Adrian H. Halili, Reporter
THE PHILIPPINES is joining the United States, Japan, and Australia in forming an intergovernmental defense council amid concerns over China’s “destabilizing” actions in the East and South China Sea, according to a joint readout of defense ministers’ meeting.
Philippine Defense Secretary Gilberto C. Teodoro, Jr. met US Defense Secretary Peter Hegseth, Australian Defense Minister Richard Marles, and Japanese Minister of Defense Koizumi Shinjiro in Kuala Lumpur on Saturday, where they reiterated commitment to a free and open Indo-Pacific.
“The Ministers and Secretaries reiterated their serious concern regarding China’s destabilizing actions in the East China Sea and the South China Sea, and their strong opposition to any unilateral attempts to change the status quo by force or coercion,” the readout, shared by the Philippine Defense department late on Sunday, said.
Citing the United Nations Convention on the Law of the Sea and the “legally binding” 2016 ruling by the Permanent Court of Arbitration in The Hague that invalidated China’s sweeping claims in the disputed waterway, the Defense leaders reaffirmed support for the ASEAN.
Mr. Teodoro, and his defense counterparts, also tackled support for the framework that would establish the Indo-Pacific Chiefs of Defense Cooperation Council to enhance coordinated cooperation activities.
The Chinese Embassy in Manila did not immediately reply to a Viber message seeking comment.
Manila has been increasingly active in forging defense agreement with foreign countries to push back against China’s coercive behavior in the vital waterway, which handles an estimated $3 trillion in annual trade.
Among these are the Philippines’ Reciprocal Access Agreement with Japan, which entered into force in September, and the recently signed Status of Visiting Forces Agreement (SOVFA) between the Philippines and Canada, adding up to its existing VFAs with Australia, New Zealand and the US.
Apart from agreements, the four countries also conduct joint exercises, such as the upcoming Balikatan 2026, enhancing operational readiness and deterrence in the region.
The potential quad council may counter Beijing’ continuous illegal, coercive, aggressive, and deceptive tactics and unfair practices, Chester B. Cabalza, founding president of the think tank International Development and Security Cooperation said.
Philippine vessels conducting resupply missions have been repeatedly harassed by Chinese ships in the disputed waterways.
“The South China Sea will serve as the ambit of coordination as Manila and Tokyo similarly experience maritime and territorial dispute with Beijing, while Australia and the US remain as staunch supporters of Japan and the Philippines to advance free, open and prosperous Indo-Pacific region,” he said in a Messenger chat.
He added that the agreement would also elevate the Philippines’ defense posture at par with the US, Japan, and Australia.
Mr. Cabalza said that the establishment of a new defense council normalizes a new form of defense network that maintains regional-based order without denying freedom of navigation and overflight.